ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Monetary Policy Hampered by Fiscal Inaction

The relatively credible programme of fiscal correction presented in the 1999-2000 budget, combined with low inflation and reduced credit offtake, has emboldened the Reserve Bank to try to bring down interest rates. However, the attempt is unlikely to revive industry in the absence of a sizeable increase in public expenditure and rapid expansion of bank credit.

To read the full text Login

Get instant access

New 3 Month Subscription
to Digital Archives at

₹826for India

$50for overseas users


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top